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TiVo Shares Soar After 'major Victory' In Court

Stock quotes in this article: DISH , TIVO  

NEW YORK (AP) — An analyst reiterated his "Buy" rating and raised his price target for TiVo Inc. Wednesday, calling a patent-related court win over rival Dish Network Corp. "a major victory."

Shares soared 47 percent, or $3.28 to $10.26 in midday trading.

On Tuesday, a federal court ordered Dish Network to pay TiVo $103 million plus interest for using a modified digital video recorder technology that it determined violated TiVo's patent for DVR Time Warp technology, which allows viewers to pause, rewind and fast-forward live shows. ...

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